Zacks: Analysts Expect Euroseas Ltd. (ESEA) to Announce -$0.03 EPS

Equities research analysts expect that Euroseas Ltd. (NASDAQ:ESEA) will announce earnings of ($0.03) per share for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Euroseas’ earnings. Euroseas reported earnings per share of ($0.51) in the same quarter last year, which would indicate a positive year over year growth rate of 94.1%. The company is expected to issue its next earnings report on Thursday, August 10th.

According to Zacks, analysts expect that Euroseas will report full year earnings of ($0.48) per share for the current financial year. For the next financial year, analysts anticipate that the company will report earnings of $0.02 per share. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Euroseas.

Euroseas (NASDAQ:ESEA) last issued its earnings results on Friday, May 12th. The shipping company reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by $0.14. The company had revenue of $8.29 million for the quarter. Euroseas had a negative return on equity of 20.36% and a negative net margin of 144.43%.

A number of analysts have recently weighed in on ESEA shares. ValuEngine downgraded shares of Euroseas from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. Zacks Investment Research downgraded shares of Euroseas from a “buy” rating to a “hold” rating in a research report on Monday, May 8th.

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A hedge fund recently raised its stake in Euroseas stock. Renaissance Technologies LLC raised its position in Euroseas Ltd. (NASDAQ:ESEA) by 28.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 198,670 shares of the shipping company’s stock after buying an additional 43,800 shares during the period. Renaissance Technologies LLC owned approximately 2.42% of Euroseas worth $336,000 as of its most recent filing with the SEC. Institutional investors own 2.82% of the company’s stock.

Euroseas (ESEA) traded up 6.93% on Thursday, hitting $1.40. 40,790 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $1.30 and a 200-day moving average price of $1.42. Euroseas has a 52-week low of $1.04 and a 52-week high of $8.07. The stock’s market cap is $15.65 million.

About Euroseas

Euroseas Ltd. is engaged in the shipping business. The Company is an owner and operator of drybulk and container carrier vessels and is a provider of seaborne transportation for drybulk and containerized cargoes. Eurobulk Ltd. manages the Company’s operations. The Company also owns and operates dry bulk carriers that transport major bulks, such as iron ore, coal and grains, and minor bulks, such as bauxite, phosphate and fertilizers.

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